Savings accounts deposits by Direct Debit? UPDATED

NoodleDoodleMan

http://www.capitalcreditunion.com/

Click on the Savings tab.

NoodleDoodleMan

Which West Brom BS account allows direct debit feed? I've looked but cant see anything on the website,,,thanks!

I tried typing "west brom bs direct debit pay in" into Google and at the bottom of the first page it came up with a pdf link to a WeBSave direct debit form for printing off.

Might be out of date of course - they may have binned the option to deposit by DD.

colsten

I think the West Brom DDs are for mortgage payments, not for savings accounts.

7. Your initial deposit for your WeBSave account/bond may be made by either a transaction from your nominated bank/building society account or a personal cheque drawn from a UK bank or building society account in the name(s) of the WeBSave account/bond applicant(s). Where permitted by the terms of the WeBSave product selected, subsequent investments (up to the maximum permitted investment balance) may be made by electronic payment (other than Direct Debit) from your nominated bank/building society account.

The complete URL for the source of the above is the following. It's so long, if I hadn't split it into two lines it would have messed up the formatting of the entire thread forever.

www.westbrom.co.uk/media/WBBS/Files/PDFs/TCs/Savings%20Product%20
Specific/Online/TCs_WeBSave_Service_Specific.ashx

chaotic_j

Hi,

Just found out that ICICI Bank withdrew the ability to pull in money via DD to their HiSAVE accounts on 23rd December 2016.

Is it possible to have more than one Internet Saver / Instant Access Savings with Tesco?

I need another account to pull a DD into but already have Tesco Internet Saver, Instant Access Savings and PO Savings..

Thanks in advance..

xylophone

I don't understand the difficulty? Just set up another DD on one of your existing Tesco saving accounts to pull the money out?

Consumerist

If you have the two Tesco savings accounts then you can service multiple current-account requirements (for two DDs per account) from just those two accounts.

Zanderman

chaotic_j wrote: »

Just found out that ICICI Bank withdrew the ability to pull in money via DD to their HiSAVE accounts on 23rd December 2016.

True but, in theory, only applies to new DDs so if you had one already it should be ok (though they haven’t yet honoured this for mine!)

chaotic_j wrote: »

Is it possible to have more than one Internet Saver / Instant Access Savings with Tesco? .

You don’t need more than one of each – but you can set up more than one DD to each…

chaotic_j wrote: »

I need another account to pull a DD into but already have Tesco Internet Saver, Instant Access Savings and PO Savings.. .

Easy enough using multiple Tesco DDs. And that’s what I’d do. For now.

The general trend for savings account seems to be heading for removal of DD options so relying on Tesco may or may not be viable long-term!

chaotic_j

Thanks xylophone, Consumerist and Zanderman - I wasn't aware that multiple DD's from one Tesco savings account counted individually!

Sorted now.. also, FYI I think PayPal can be used.. add your bank account to it, link together after they pay the 1p into your bank account by putting the code in, then transfer £1 a month into PayPal?

notpennyless

Can someone help me with a few questions:

1) For the Halifax Rewards account to get the £3 benefit per month do you have to have two MONTHLY direct debits or two ACTIVE direct debits?

2) Does an active direct debit mean you could do a transaction once in a while like every year or more and it still counts or does it need to be more frequent?

3) With using Paypal as a direct debit, is linking the account enough to count as a DD or do you need to purchase goods with it frequently?

4) Is there an option to transfer a pound a month to your paypal account through the DD or is it only used for purchasing goods?

Thanks in advance

Consumerist

notpennyless wrote: »

Can someone help me with a few questions:

1) For the Halifax Rewards account to get the £3 benefit per month do you have to have two MONTHLY direct debits or two ACTIVE direct debits?
2) Does an active direct debit mean you could do a transaction once in a while like every year or more and it still counts or does it need to be more frequent?
3) With using Paypal as a direct debit, is linking the account enough to count as a DD or do you need to purchase goods with it frequently?
4) Is there an option to transfer a pound a month to your paypal account through the DD or is it only used for purchasing goods? . . .

My understanding is that two direct debits must actually be paid out from the account each month. If you are able to set up a monthly DD from your paypal account (not sure if that is an option) then it would count.